Wallets should be called keystores instead
There is too much confusing around bitcoin and the crypto community. Many beginners who come here still ask basic questions because of the confusion around the word 'wallet'.
I've been thinking about this for a while and think we should be calling a bitcoin wallet or crypto wallet, a "bitcoin keystore", or "blockchain keystore" (for multi cryptocurrency wallets).
It would brush up a lot of confusion/misconceptions:
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Bitcoins are stored in a wallet. Wrong, your keystore gives you access to spending the bitcoin via the blockchain.
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Couldn't duplicating your wallet, duplicate your bitcoins. Wrong, duplicating a keystore just gives you a copy of the current keys.
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Backing up a wallet file is for your current bitcoins only. Wrong, backing up your keystore (if its deterministic like 99% of keystores) allows you to backup future funds too.
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Someone stealing your wallet, only gives them access to your current wallet funds. Wrong, access to the keystore also gives them access to future funds too that you deposit to it.
It would greatly benefit newcomers who should start thinking of there wallet as a bunch of keys, rather than a "mysterious" wallet, and need to unlearn there misconceptions.
For one, Samsung blockchain keystore is the only one at the moment that refers to it this way that I can think of. But at least bitcoin core should create keystore.dat rather than wallet.dat by default, and then read either of these files for backwards compatibility.
We already refer to wallets sometimes as "seeds or private keys" but we could do better by all together dropping the word wallet for keystore. That do you guys think?
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from Bitcoin - The Currency of the Internet https://ift.tt/3fJcd7V
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